The International Monetary Fund has refused to fully endorse Pakistan’s proposal for a subsidized electricity rate aimed at feeding Bitcoin -my construction activities, local media -outlet Gain Reported on July 3.
According to the report, Fakhray Alam Irfan, the chairman of the Pakistani Senate permanent power, revealed that the IMF only approved an exemption period of three months, reduced compared to the proposed six months, stating risks of market distortion and pressure on the already tense energy sector of the country.
The partial rejection reflects the wider skepticism of the IMF for the adoption of crypto at national level. Similar warnings have been given to other countries, including El Salvador, where the IMF has warned against the direct involvement of the government with Bitcoin -Mybouw and Accumulation.
In particular, the global financial supervisor has also questioned Pakistan’s energy plans, especially those associated with emerging sectors such as Bitcoin -my construction and AI infrastructure.
The government’s plan includes the re -use of three under -utilized coal -fired power stations to provide crypto -building activities and data centers with electricity, an approach that has raised questions about national energy priorities and potential effects on rates.
Pakistan deepens his bitcoin strategy
Despite the reserves of the IMF, Pakistan seems to double his crypto -push.
The authorities have indicated a broader dedication to digital assets, framing Bitcoin as a financial tool for sovereign quality that can help strengthen financial decentralization and innovation in the Global South.
Pakistan is building a high-profile advisory group for his newly formed crypto council as part of this strategy. The team includes Michael Saylor, founder of MicroStrategy, Binance Changpeng “CZ” ZHAO and World Liberty Financial Advisor Bin Saqib. These appointments reflect Pakistan’s ambition to shape the worldwide crypto discourse and policy.
In a related development, World Liberty Financial, the Defi project with links with US President Donald Trump and his family, signed a memorandum of conformity with the Pakistan Crypto Council (PCC) at the end of June.
